Matador Mining Ltd (ASX:MZZ, OTCQX:MZZMF) has kicked off its inaugural drilling campaign at the Cape Ray Gold Project’s Malachite prospect in Newfoundland, Canada.
The maiden program follows hot on the heels of a summer field program, which relied on prospecting, mapping and sampling to define several structurally controlled targets for future exploration.
Now, Matador is out to investigate several high tenor gold anomalies, a major bend in the Cape Ray Shear Zone (CRSZ) and a series of second- and third-order structures — all of which are conducive to discoveries.
Considerable prospect to explore
Matador managing director and CEO Sam Pazuki said starting drilling at Malachite was “an incredible milestone” for the company and its shareholders.
“The team has spent the past few months on the ground to define specific areas to drill based on the data collected in the area over the past year,” he said.
“The Malachite area is extensive with 15 kilometres of strike and four kilometres wide and underexplored with no previous drilling to date.
“Although we are very excited to achieve this milestone, we have considerable work ahead of us given the size of the target area."
Malachite drill helicopter mobilisation.
Diamond drill bit spinning
Pazuki said the company would embark on a modest helicopter-supported diamond drilling program, covering around 3 kilometres.
“[The program] will test three specific areas where summer fieldwork identified extensive areas of outcropping sulphide and quartz veining and hydrothermal alteration,” he explained.
“These areas are only a fraction of the broader Malachite area and drilling is only one of several tools we will continue to use to make major gold discoveries.
“In parallel with diamond drilling, we will continue prospecting, mapping and sampling areas to continue building our pipeline of targets ahead of future drill programs.”
Targets acquired
Matador’s MAL01 target, roughly 3 kilometres north of the CRSZ, is home to the best gold grain sample collected across the Malachite survey area.
At best, the sample returned 1,201 grains, equivalent to a 1.93 g/t gold grade, but there are nine more highly anomalous samples (reading upwards of 10 grains) in the immediate target area.
Heading south is the MAL02 target, highlighted by a cluster of 11 anomalous gold grain samples. The peak sample returned 336 gold grains — a 1.92 g/t gold grade equivalent.
Finally, the MAL03 target is just off the main bend in the CRSZ. The target area spans at least 1,400 by 1,000 metres, is defined by coherent gold grain anomalism and hosts the largest and strongest arsenic anomaly identified to date at Malachite.
Read more on Proactive Investors AU
